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How well do banks understand mobile banking customer demands?
Ease of usage, security and, in emerging markets, low network reliability, are key concerns customers want to see addressed in their mobile banking relationships.

Oct 17, 2013 | Research

While banks have been reporting double to triple digit growth rates in mobile banking registration, they keep away a little secret. The pool of mobile banking users remains trivial compared to internet banking or retail customers in general. It is true that the largest banks in Asia, excluding China, have between 400 to 600 registered mobile banking users but it disguises the fact that the active mobile banking user rate performing a mobile payments transaction in a 30-day interval is in the single digits and, topping this, 70% of all bank interactions on mobile devices are non-financial transactions. Mobile e-commerce take up for banks that have rolled out NFC payments is a fraction of their 1% of mobile banking pool.

 

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Categories: Channels, Customer Centricity, Mobile Banking, Retail Banking, Technology & Operations
Keywords: NFC Payments, Andrew Pitcher, SAP, M-Commerce
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